Multi sector joint policy, supply optimization and consumer market potential stimulation
2022-11-04
The "Double 11" promotion season is in progress. The sales data of multiple platforms show that the sales of high-end household appliances, digital products, "China-Chic" brand and other categories have increased significantly, among which the growth of upgraded categories is obvious. Industry analysis shows that high-quality products and services have become an important factor to stimulate the vitality of the consumer market. It is worth noting that optimizing supply has become an important driving force for expanding domestic demand and promoting consumption. The reporter noted that in the near future, several departments have jointly deployed to increase the supply of high-quality products and services from the supply side, so as to better release the potential of the consumer market. On November 1, Suning E-shop released a report showing that during the first round of "Double 11", the sales of green energy-saving household appliances in Suning E-shop offline stores increased by 126% month on month, the sales of high-end household appliances above 10000 yuan increased by 137% month on month, and the sales of Chinese household appliance brands accounted for more than 60%. On the evening of October 31, after the launch of Tmall's "Double 11" sales, the sales of five major domestic mobile phone brands exceeded 100 million yuan in one second, and consumers' demand for 3C appliances was strong. Data from JD platform also shows that during the pre-sale period of "Double 11", household appliances, especially upgraded products, witnessed explosive growth, with the sales volume of washing and drying suits growing nearly 100% year on year, and the sales volume of bass wall breaking machines growing more than three times year on year. It can be seen from the "Double 11" data that with the continuous improvement of the quality and level of production and supply of consumer goods, upgrading products have become an important growth point in the consumer market. Taking smart home appliances as an example, according to the data released by the Ministry of Industry and Information Technology recently, the market size of smart home appliances in China has reached 500 billion yuan, new categories of home appliances such as dishwashers and floor sweepers have developed rapidly, and new durable consumer goods have accelerated their entry into ordinary people's homes. The potential market demand is expected to be further released. Song Jingxue, head of the Research Department of the National Home Appliance Industry Information Center, pointed out that, according to estimates, the number of color TV sets, air conditioners, refrigerators (cabinets) and washing machines in China has exceeded 2.1 billion. Among them, a large number of household appliances that have been used for more than 10 years or even longer are still in service, and there is huge room for market upgrading. In the opinion of Wang Qing, the deputy director and researcher of the Market Economy Research Institute of the Development Research Center of the State Council, with the steady growth of residents' income and the continuous improvement of market supply, residents' consumption has entered a new round of upgrading and reform period, and the demand for diversified, personalized and high-quality consumption has continued to increase. "In order to effectively leverage this part of demand, in addition to the promotion subsidy policy, more high-quality products are needed." Wang Qing said. The reporter noticed that many departments have deployed in recent years to provide more high-quality products and continuously meet consumers' multi-level, personalized and high-quality consumption needs. At the press conference on October 27, the spokesman of the Ministry of Commerce, Shu Jueting, said that in the next stage, we will organically combine the implementation of the strategy of expanding domestic demand with the deepening of supply side structural reform, take multiple measures to promote the sustainable recovery of consumption, and enhance the fundamental role of consumption in economic development. The Ministry of Industry and Information Technology will accelerate the implementation of the "three products" strategy of increasing varieties, improving quality and creating brands, continuously improve the supply capacity of consumer products and services, continue to enhance the role of consumption in stimulating economic growth, and consolidate and expand
Edit：Yi Bing Responsible editor：Wei Li Bin
Source：Economic Information Daily
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